Glenn
F. Tilton, president and CEO of UAL Corp., at the full-time
and TMP commencement where he addressed the graduates.

Though economic times are more uncertain today
than when students left the work force to earn their MBAs,
commencement speakers advised the Kellogg School's Class
of 2003 that the trials they face will ultimately make
them stronger
leaders.

Convocation speaker Glenn F. Tilton, chairman,
president and CEO of UAL Corp. and its subsidiary United Airlines,
noted that graduates will re-enter a weak economy where unemployment
remains high.

"Combine that with a threat daily of
terrorism and you're facing one of the most uncertain times
in history," Tilton said.

In all, more than 1,000 students received
master of business administration, doctor of philosophy or
joint master's degrees in business and another discipline
during the graduation ceremony, held June 21 at Northwestern
University's Welsh-Ryan Arena.

Tilton, who comedian Jay Leno once quipped
had the worst job in corporate America, offered lessons from
his tenure as CEO of an organization facing financial challenges.

"A challenging environment is a good
thing," Tilton said. "Success can come too easily
in a boom economy. What you gain from challenges is a sense
of appreciation for accomplishments, not a sense of entitlement."

It seemed a fitting send-off for the Class
of 2003, many of whom began their studies at the Kellogg School
on Sept. 11, 2001 ó the date of the terrorist attacks
on New York and Washington, D.C. ó and have witnessed
the country's steps to recover its economic footing ever since.

There is no one path to success, said Tilton.
He advised graduates to take risks, be open and honest and
to refrain from taking themselves too seriously.

"Be humble. In your jobs, you will be
encountering people from all walks of life and I believe you
can learn from all of them," he said, adding that he
reads every email message he receives from his employees.

Kellogg Dean Dipak C. Jain advised graduates
to make continuous learning part of their careers and not
to forget to turn to their alma mater in their quest for additional
knowledge.

"Learning should still be your guide
as you move forward," Jain said. "Turn to the Kellogg
School as a source to replenish your mind, body and soul."

Also during the two-hour ceremony, Assistant
Professor of Marketing Christie Nordhielm accepted the L.G.
Lavengood Professor of the Year Award for outstanding teaching.
Saying fear can be a motivating factor in marketing, in the
classroom and life, Nordhielm told graduates to face head-on
the things that test them.

"Fear is one of the first signposts on
the road to learning," she said. "Don't turn away
from difficult problems, whether at work, in your personal
life, or most importantly, in the world."